Report: Jack Johnson will not sue his parents over his bankruptcy
By @MichaelCaples –
According to a TSN report, Ann Arbor native Jack Johnson will not sue his parents after their expenditures under their son’s name led to the NHL star having to declare bankruptcy.
Last November, it was revealed that Johnson – a former star at USA Hockey’s National Team Development Program and the University of Michigan – was forced into declaring bankruptcy due to frivolous spending by his parents, who took out absurd loans and made extravagant expenditures while borrowing against Johnson’s future earnings.
More on the initial story here.
Now, TSN’s Rick Westhead is reporting that Johnson will not pursue a lawsuit against his parents, Jack Sr. and Kristina, who are “devastated” by what they have done, according to court reports.
Westhead’s report indicates that Johnson has chosen not to pursue legal action because his parents are struggling financially, and he is unlikely to recover money or assets from them.
From the TSN article:
Johnson’s investigation of his parents’ alleged spending led to a meeting between them and his lawyer on Feb. 12, 2015, in Minneapolis.
During that meeting, Johnson’s parents explained their precarious finances. The last time Johnson’s father earned more than $100,000 was in 2006 or 2007. Since then, his income has been about $15,000 per year, for cutting down trees, shoveling garbage, washing cars, and “doing everything he can to put food on the table.”
“Mr. Johnson does not have any assets other than a Ferrari that is not in working condition,” a court filing says.
Johnson’s mother has similarly performed odd, part-time jobs.
“Although (Jack Johnson) determined that (he) has claims and causes of action against (his parents), (he) reasonably determined not to proceed with litigation against the Johnsons given their limited financial wherewithal and to avoid consuming estate assets pursuing an unlikely and speculative recovery at best,” Johnson’s lawyer wrote in a court filing.
Johnson, 28, is in the midst of his 10th NHL season, and fifth with the Columbus Blue Jackets.
To read more, click here.
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